Greece becomes place to shop for Turkish firms

Interest from Turkish firms is peaking as the privatization period approaches in which Greece will be putting up 50 billion Euros worth of assets. Turkish firms are currently embarking on market research prior to the upcoming election, acting on the assumption that the government formed will continue the privatization program. However, there are also some that are interested in purchasing Greek firms even prior to their privatization.

Doğuş Group has purchased four marinas in Greece thus far, while Pak-Maya and Çukurova Group have also decided to acquire growth through purchases in the region.

TOURISM AND ENERGY

Foreign Economic Relations Board (DEİK) Turkish Greek Business Council Chairman Selim Egeli states, "Firms have been awaiting results from research conducted prior to the upcoming election. It appears that the winning parties will continue with the privatization program from where it left off. A number of groups are especially interested in tourism and energy projects."
Egeli also noted that a variety of Greek firms may be transferring main operations over to Turkey due to the nation's crisis. "There are certain companies, especially in the software, food and construction sector that want to establish their headquarters in Turkey. Instead of operating from Greece, they want to come to Turkey, with its 70 million in strength market. Instead of scrambling in the German and French market, they perceive Turkey with its shared cultural heritage to be a more viable option," states Egeli.